11 Bridgewood Ln

Watervliet, NY 12189

$275,000D

2 bd · 1.5 ba · 1,570 sqft · Built 1989 · Townhouse · Pending · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,166/mo
• Mortgage (P&I): −$1,442
• Tax + insurance: −$410
• HOA: −$52
• Vac / Maint / Mgmt: −$455
• Net cashflow: $-193/mo
• Annual: $-2,313/yr
• Cap rate: 5.45%
• Cash-on-cash: -3.00%
• DSCR: 0.87
• 1% rule: 0.79%
• Cash to close: $77,000

Investor read

• This is a 2-bed/1.5-bath townhouse listed at $275k.
• At list price, monthly cash flow is $-193 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $241k (12.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $217k (21.2% below list).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $217k (21.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 84/100 on livability (#51 in NY, #786 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: crime D+.
• North Colonie CSD (suburban): math 70% / reading 76% proficiency, ranked #102 of 590 in NY (top 17%) — strong family-tenant draw, lease renewals of 3-5y typical; only 13% free/reduced lunch — higher-income household profile.
• Zoned schools: Shaker High School (math 98% / reading 93%, grade A+, #76 of 1,100 statewide, top 7%, 2,018 students, 25% FRL).
• Zoned-school proficiency averages 96% at this address vs 73% district-wide (+22 pts) — the actual schools serving this property are materially stronger than the North Colonie CSD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+6.6%/yr); 72 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• This rent runs 40% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.